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Posts Tagged ‘Forbes’

Millionaire Malaysia, Tan Sri Quek Leng Chan became ‘victims’ of the bankruptcy of American Airlines. Quek could lose its investment to $ 772 billion because of the bankruptcy of American Airlines.

Quek who controls the Hong Leong Group and Guoco known to buy 7.3% stake in AMR Corp., parent of American Airlines three months ago. American Airlines parent AMR Corp. and registering bankruptcy on Tuesday, November 29 last.

According to news reported by The Star, Friday (12/02/2011), Quek bought 24.4 million shares of AMR through a listed company in Hong Kong Guoco Group Ltd and related companies.

Through its website, Guoco Group said the investment includes a global stock market is made to increase the capital value of the company’s vision in line to get superior returns over the long term for shareholders.

It is not yet clearly known how exactly the value of the shares bought Quek. However, based on the closing price on August 15, worth an estimated U.S. $ 92.2 million or about U.S. $ 3.78 per sheet.

Well, on Tuesday, shares of AMR recorded dropped to 26 cents per share after announcing its bankruptcy protection. AMR shares fell by 93.12% recorded since August 15, or after the purchase by the Quek.

Thus, Quek potentially losing up to U.S. $ 85.88 million or around Rp 772 billion.

American Airlines, which is the third largest U.S. airline registering for bankruptcy protection on Tuesday, November 29 and then after failing to make a profit since 2007. American Airlines recorded assets up to U.S. $ 24.7 billion and debt of U.S. $ 29.6 billion, with a staff of about 88,500 people.

Large shareholders other American Airlines is Primecap Management Co., an investment firm based in Pasadena, California which controls 12.30% shares. Also ICC Capital Management from Orlando, Florida at 7.49% and Capital World Investors of 7.40%.

Quek, born in Singapore in 1941, lined up to star as Malaysia’s richest man by Forbes magazine. With a fortune of about U.S. $ 4.8 billion, Quek was in a position to-5. Apart from the Hong Leong Group in Malaysia, the greatest wealth came from Guoco Group Quek.

An alternative to starting their own business idea is to buy a franchise (if looking for read our article on Franchising ).
Another alternative is to buy a going concern and from then repowering the business for which the utility that its current owner obviously is not getting and that leads to the sale of this business (of course sometimes there are other reason as the removal of owner).
Do not be afraid to buy a going concern. Remember, for example, Carlos Slim, the second richest man in the world is devoted to buying businesses and then repowering (read our article about Carlos Slim’s Secret ).
One of the essential elements for the purchase of a going concern is knowing how to exploit the same for you know who is paying the right price.
For this there are various valuation methods and indeed the issue rather than math and science can say that this is an art which methods should be tailored to each case (the methods can range from the valuation of assets and liabilities at their present value, cash flow, profit projection among others).
Although it is limited to the United States market, we want to inform the website that helps BizEquity value the cost of a business. Buying a business can also be an option if you want to immigrate to the United States.

The key success of Carlos Slim, owner of the telecommunications company Telmex are:
1. Management of detail and pragmatism. Carlos Slim sees business opportunities with companies in crisis to buy and get them out in front where others could not. For this management of detail used in the management of these companies.
As quoted CNNExpasion, Carlos Slim is said to come to a country when asked how much a cup of coffee, how much gasoline and how much a pack of cigarettes to get an idea of ​​the situation in the country.

Management is in an obsession with detail that is communicated to all employees. So for example once was able to increase the profit margin of a chain of 200 stores with the only analysis of what was happening with the consumption of electricity.
Something is negotiated. The administration of Carlos Slim is to negotiate everything to achieve greater benefits than they already have. When buying a business the first thing is to negotiate individual contract to achieve new economic conditions.
The rule is always to negotiate and renegotiate always be something else.
It is sometimes argued that the conditions imposed are excessive but that is the style of Carlos Slim.
3. Count each weight. The management of Carlos Slim is a crisis management as buying companies in financial difficulties and began to make extremely austere and management companies.

Carlos Slim is the second richest man in the world, is Mexican and just bought 6.4% of the shares of the owner group of The New York Times.
Following this purchase, several publications have done stories on this business legend who has managed to make money and see business opportunities where others have failed.
CNNExpansion exactly does an extensive report of what are the keys to the success of Carlos Slim with the challenges involved as one of the elements of the corporate culture of Carlos Slim is to be sealed as to what happens inside this powerful economic group .
It is always interesting to learn of the millionaires as they got where they are and how to achieve sustained at that location since that is the path to economic success, a few weeks ago why write another article on another millionaire, Felix Denis founder of Maxim magazine in our article How to Be a Millionaire but really Millionaire .

Everywhere there is talk of economic crisis and the recession came and went already. Some predict that will last a year, others say four years.
Actually I do not think anyone knows for sure.
But instead of seeing what happens or you can spend what we need to do is take action to seek opportunities in these times of crisis and see how we can use it to make more money or at least lose less.
In an article in The Wall Street Journal for example we recommend to proceed with the renegotiation of all we can renegotiate.
This strategy is already being implemented by many small businesses are renegotiating for example with the owners of the premises rented by the improved economic conditions of the local rent they are renting.
Other suppliers are renegotiating with their major advantages of financing the purchase of their products. This is truly an opportunity to renegotiate and save everything and count every dollar that we can (remember that this is one of the strategies used by Carlos Slim, one of the richest men on the planet?, I recommend reading the article The Secret Carlos Slim to be a Millionaire and Make Money ).
I imagine very soon have noticed that if everyone in the market by renegotiating all effects of this crisis at the end the people to whom you sell them also end up renegotiating with you. In effect it’s going to happen and that’s why you should go ahead and take advantage of financial benefits to renegotiate out first.